Stock Market Update

The stock market is on track for a higher open as mega-cap and tech names are well positioned to rebound from yesterday's losses. 

Amazon's (AMZN 252.85, +29.99, +13.5%) and Apple's (AAPL 277.56, +6.16, +2.3%) earnings results certainly support the premarket gains in tech, while there is also a sense that investors are buying yesterday's dip. 

The major averages still hold week-to-date gains despite the pullback, having notched record highs for three consecutive days to start the week. Those gains are underpinned by strength in the information technology (+3.3% week-to-date) and communication services (+0.9% week-to-date) sectors, the only two sectors that remain in positive territory for the week.